The Minister of Economy, Serge Massawill meet this Friday in Houston with the main directors of fifteen oil companies that are among the most powerful in the world and that have interests in the country, to whom they will present the guidelines for new measures aimed at encourage investment in the energy sector and attract more foreign currency for the country.
“We aspire to accelerate investments, to find mechanisms that allow us to transform Argentina into an energy exporter”Massa told the press this Thursday afternoon when referring to the agenda that he will develop in Houston, within the framework of the visit he is carrying out in the US that will end next Monday when he meets the head of the International Monetary Fund (IMF). Kristalina Georgieva.
What will Massa talk about with the oil companies
The head of the Treasury Palace pointed out that the idea is “Re-enforce a 2014 decree by former President Cristina Kirchner regarding the birth of Vaca Muerta with Chevron, which the Government of (Mauricio) Macri failed to comply with and generates some level of mistrust in Argentina on the part of Chevron “.
Massa stressed that he will seek to convey to the oil companies “that they feel that they have the opportunity to invest, to export, to generate employment in Argentina and to allow the country to be a global player in the energy security agenda”.
The minister also pointed out that “the oil companies are going to be invited to form part of the YPF-Petrona project“, In reference to deal announced last week between the Argentine company and the Malaysian company to develop an LNG export project that will require investments of $1.2 billion in an initial stage to increase the production of shale gas, build a new transportation system, a liquefaction plant and a port terminal in the Bahía Blanca area.
Massa made statements to the press during a break in the meetings he held this Thursday afternoon with executives of companies in the food categorywhich was also attended by the US Undersecretary for Economic Growth, Energy and the Environment, Jose Fernandezconsidered one of the highest authorities of the Department of State.
“We aspire to accelerate investments, to find mechanisms that allow us to transform Argentina into an energy exporter.”Serge Massa
Sources from the Argentine delegation pointed out that the guidelines that Massa will anticipate to the oil directors are part of the new “energy plan” that the minister will present on Wednesday, September 14, one day before the Budget 2023.
In a contact with Télam, the Secretary of Energy, flavia royonsaid that in the Argentine delegation they have “a lot of expectation in the meetings” that will take place this Friday in Houston.
“Part of the job is the search for foreign investment and The United States is a long-standing ally of Argentina, and in particular of oil & gas. We understand that Vaca Muerta has reached a significant stage of maturation and is already a world-class resource,” stressed the official, who will accompany Massa in the various meetings, together with the president of YPF, Pablo González.
???? The company Lamb Weston Holding, the first producer of frozen potatoes in the United States and the second worldwide, plans to invest 250 million dollars in our country, to install a production plant in the city of Mar del Silver. pic.twitter.com/dYa0Lw6fXf
– Sergio Massa (@SergioMassa) September 8, 2022
“It is proven that we have productivities at the same level as the United States and that is why we understand that Vaca Muerta is ready to make a quantitative and qualitative leap in terms of investments,” emphasized Royon.
Regarding the different proposals made by the oil companies, Royón said that “today the main concern is the issue of predictability and legal certainty in fiscal matters towards the future.”
“The most complex issue is that Argentina is in a complex macroeconomic situation and has difficulties in accessing foreign currencyThat is the main concern of the sector,” said the official, adding that “this situation is a situation and that promoting this sector is part of the solution to the problem.”
The agenda that Massa will develop in Houston will begin with a breakfast at Rice University, in which the main leading companies in the oil sector will participate.
Later, the head of the Palacio de Hacienda will hold bilateral meetings with directors of Total, Chevron, British Petroleum and Bridas.
With Chevron Massa also plans to visit the operations center that the oil company has in Houston.
